Entrepreneurship and Productivity

by Williams, Edward E.; Thompson, James R.

• ISBN13: 9780761809388
• ISBN10: 0761809384
• Format: Hardcover
• Copyright: 1997-12-04
• Publisher: UPA

Summary

Contents: Productivity and Production; The Economics of Aggregate Production; Economic Growth and Enhanced Production; Production at the Enterprise Level: The Entrepreneurial Firm; Preparing a Business Plan; The Business Plan Document; Enterprise Growth; An Introduction to Forecasting; Empirical Time Series Modelling; The Deming Paradigm for System Optimization; Control Charting: Some Case Studies; Index.

Table of Contents

List of Tables	xii	(2)
List of Figures	xiv	(3)
Preface	xvii
Chapter 1 Productivity and Production	1	(28)
1.1 Introduction	1	(1)
1.2 What Is Productivity?	2	(2)
1.3 Beyond Labor Efficiency	4	(1)
1.4 Beyond Efficiency	5	(1)
1.5 The Factors of Production	6	(1)
1.6 Enterprise Level Factors	7	(1)
1.7 Productivity Correctly Considered	8	(2)
1.8 Production Functions	10	(1)
1.9 Return Economies	11	(2)
1.10 Absolutely Diminishing Returns	13	(1)
1.11 Scale Economies and Optimal Production	13	(4)
1.12 Factor Switching	17	(2)
1.13 Optimal Inputs	19	(1)
1.14 Optimal Output	20	(4)
1.15 Choice and Output	24	(2)
Appendix: The Calculus of Production	26	(3)
Chapter 2 The Economics of Aggregate Production	29	(28)
2.1 Introduction	29	(1)
2.2 Aggregate Economic Activity	30	(3)
2.3 Modeling Economic Activity	33	(2)
2.4 Consumption	35	(1)
2.5 National Income, Personal Income, and Consumption	36	(6)
2.6 Business Investment	42	(1)
2.7 Government Purchases	43	(1)
2.8 The Simple Multiplier	44	(2)
2.9 Accelerated Investment	46	(1)
2.10 Taxes	47	(1)
2.11 Transfer Payments	48	(1)
2.12 A More Complex Multiplier	49	(1)
2.13 Net Exports	50	(1)
2.14 A Complete Basic Model	51	(6)
Chapter 3 Economic Growth and Enhanced Production	57	(20)
3.1 Introduction	57	(2)
3.2 Long-Run Production Growth	59	(1)
3.3 Saving and Growth without Technological Change	60	(1)
3.4 Saving and Growth with Technological Change	61	(2)
3.5 The Importance of Stimulating Saving and Production Growth	63	(3)
3.6 An Aggregate Growth Formula	66	(2)
3.7 Enhancing Labor Inputs for Greater Production	68	(1)
3.8 Enhancing Capital Inputs for Greater Production	69	(3)
3.9 Enhancing Technology for Greater Production	72	(5)
Chapter 4 Production at the Enterprise Level: The Entrepreneurial Firm	77	(34)
4.1 Introduction	77	(1)
4.2 Psychology and Enterpreneurs	78	(2)
4.3 Economics and Entrepreneurs	80	(4)
4.4 An Entrepreneurial Model	84	(8)
4.5 Business Taxes	92	(5)
4.6 Business Depreciation	97	(6)
4.7 Enhancing Productivity	103	(1)
4.8 Conclusions	104	(7)
Chapter 5 Preparing a Business Plan	111	(32)
5.1 Introduction	111	(1)
5.2 Step One: Statement of Enterprise Mission	112	(2)
5.3 Step Two: Definition of Business	114	(2)
5.4 Step Three: Identification of the Business Opportunity	116	(3)
5.5 Step Four: Specification of External Variables	119	(2)
5.6 Step Five: Making Critical Assumptions	121	(10)
5.7 Step Six: Pinpointing Success Determinants	131	(6)
5.8 Step Seven: Outlining Major Strengths	137	(2)
5.9 Step Eight: Outlining Major Weaknesses	139	(2)
5.10 Summary and Conclusions	141	(2)
Chapter 6 The Business Plan Document	143	(28)
6.1 Introduction	143	(2)
6.2 The Executive Summary	145	(3)
6.3 Complete Analysis of the Industry	148	(3)
6.4 Form and Organizational Structure of the Company	151	(2)
6.5 Pro Forma Financial Statements	153	(6)
6.6 The Strategic Plan	159	(4)
6.7 The Operating Plan	163	(4)
6.8 Appendices	167	(1)
6.9 Summary and Conclusions	168	(3)
Chapter 7 Enterprise Growth	171	(42)
7.1 Introduction	171	(1)
7.2 Growth in the First Year	172	(8)
7.3 Determining a Growth Strategy	180	(10)
7.4 Financing a Growth Strategy	190	(1)
7.5 Short-Term Finance	191	(7)
7.6 Why Grow?	198	(1)
7.7 Simple growth Calculations	199	(2)
7.8 Determinants of Growth and Return on the Investment	201	(2)
7.9 Financing Long-Term Growth	203	(6)
7.10 Summary and Conclusions	209	(4)
Chapter 8 An Introduction to Forecasting	213	(30)
8.1 Introduction	213	(6)
8.2 Forecasting in a Monotonically Increasing System	219	(11)
8.3 Forecasting as Regression	230	(5)
8.4 Forecasts Based on a Brownian Process	235	(8)
Chapter 9 Empirical Time Series Modelling	243	(28)
9.1 Introduction	243	(1)
9.2 Simple Exponential Smoothing	244	(3)
9.3 Autoregressive Modeling	247	(3)
9.4 Moving Average (MA) Modeling	250	(1)
9.5 Autoregressive Moving Average ARMA Modeling	251	(3)
9.6 Seasonal Effects	254	(4)
9.7 A Simple Test for White Noise	258	(1)
9.8 Bivariate Autoregressive Modelling	259	(3)
Appendix: Nelder-Mead Optimization	262	(9)
Chapter 10. The Deming Paradigm for System Optimization	271	(30)
10.1 Introduction	271	(1)
10.2 Deming's Fourteen Points	272	(5)
10.3 Pareto's Maxim	277	(2)
10.4 False Goals, Shattered Dreams	279	(4)
10.5 Pareto and Ishikawa Diagrams	283	(4)
10.6 Quality Assurance by End Inspection	287	(4)
10.7 Flow Charting	291	(10)
Chapter 11. Control Charting: Some Case Studies	301	(37)
11.1 Introduction	301	(1)
11.2 An Example With Open Ended Failure Counts	301	(5)
11.3 An Example With Failure Proportions	306	(6)
11.4 SPC with Measurement Data	312	(4)
11.5 When Control Charts "Don't Work"	316	(9)
11.6 SPC versus Quality Assurance	325	(1)
11.7 Design and SPC	326	(1)
11.8 Design versus Tweaking the System	327	(3)
11.9 Some Final Thoughts	330	(8)
Index	338